Venezuela has the highest inflation rate in the world, as of 2020, estimated at 6500% by the IMF. The country has been suffering from hyperinflation since 2016, triggered by a collapse in oil prices, economic mismanagement, and US sanctions.
Zimbabwe has the second highest inflation rate in the world, as of 2020, estimated at 348.6% by the IMF. The country has experienced several episodes of hyperinflation, most recently in 2019-2020, due to political instability, currency devaluation, and monetary expansion.
Sudan has the third highest inflation rate in the world, as of 2020, estimated at 166.1% by the IMF. The country has faced soaring prices of food and fuel, as well as a depreciation of the Sudanese pound, amid economic crisis and civil unrest.
Lebanon has the fourth highest inflation rate in the world, as of 2020, estimated at 94.5% by the IMF. The country has been in a deep financial and political crisis since 2019, marked by a default on its sovereign debt, a banking collapse, a currency crash, and a massive explosion in Beirut.
Zambia has the fifth highest inflation rate in the world, as of 2020, estimated at 32.1% by the IMF. The country has faced economic challenges due to low copper prices, high public debt, and the impact of the COVID-19 pandemic.